Friday, October 30, 2015

Four sectors moved higher on Friday…XLE,
XLU and XLY were the
strongest sectors while XLF was the weakest sector.

For the week XLV, XLY and XLB were
the only sectors that rose. XLF
was down slightly.

(click image to enlarge)

Breadth strengthened on the NYSE as advancers led decliners 1.17 to 1 on the NYSE and1.40 to 1
on the NASDAQ decliners led advancers.

Friday – mixed, mixed

Thursday – weakened, decliners led

Wednesday – strengthened, advancers
led

Tuesday – weakened, decliners led

Monday – weakened, decliners led

SPYdown .90at 207.93 on 131 million shares

VIXup .46
at15.07…

TNX down .22 at21.51…

TLT up .92 at 122.78…on
11.8 million shares

XLF down .35 at 24.08…on
51 million shares

AAPL down 1.03 at 119.50 on 49.3
million shares

FB down 2.91 at101.97 on 33.4
million shares

Technical Commentary:

SPY -0.43%, QQQ -0.45%, IWM -0.46%, DIA
-0.50%.

(click image to enlarge)

The broad
markets SPY, QQQ, DIA exhibited slowing momentum both on Friday and for
the week. This should be expected with SPY
returning to the middle of its sideways consolidation channel from February to
August. Be prepared for a potential short-term
pull back going into next week, perhaps forming another bull flag.

(click image to enlarge)

Short-term Chart Targets:

SPY =...209.59, 211.05…

QQQ = 114.11, 118.17…

IWM = 117.14, 118.55…

Support Levels

SPY = 205.79

QQQ = 112.27

IWM = 113.10

The SPX Market Forecast is at 96.

FB will report earnings Wednesday after the close and saw
profit-taking on Friday after LNKD blew away its earnings estimates.

Tuesday, October 27, 2015

Two sectors moved higher on Tuesday…XLV,
XLP and XLU were the
strongest sectors while XLE was the weakest sector.

Breadth weakenedon
the NYSE as decliners led advancers 2.85 to 1 on
the NYSE and2.44 to 1 on the NASDAQ.

Tuesday – weakened, decliners led

Monday – weakened, decliners led

Friday – weakened on the NYSE, advancers
led

Thursday – strengthened, advancers
led

Wednesday – weakened, decliners led

SPYdown .19at 206.60 on 77.8 million shares, 39%
below average volume

VIXup .14
at15.43…

TNX down .30 at20.28…

TLT up .31 at 124.33…on
7.1 million shares

XLF down .14 at 23.90…on
23.2 million shares, 36% below average volume

AAPL down .73 at 115.40 on 69.7
million shares, 41% above average
volume

FB down .07 at103.70 on 23.7 million
shares, 14% below average volume

Technical Commentary:

QQQ +0.20%, SPY – 0.19%, DIA -0.20%, IWM
-1.10%.

SPY pulled back on below
average volume for a second day ahead, of the FOMC announcement on Wednesday
at 2 pm ET, while forming
a bull flag pattern. DIA
is also in the second day of a bull flag pattern, while IWM pulled back
from resistance in a sideways trading range.

QQQ/NDX inches higher for
second day this week on gains in biotech’s BIIB, GILD, AMGN, REGN, VRTX,
ALXN and CELG. BIDU, AMZN,
YHOO, MYL, CERN, CSCO,COST and MAR also add to gains.

RAD +2.59, +42.60% and WBA +5.68, +6.35gained following the announcement that WBA
would buy RAD for $17.2 billion in cash.

Tuesday earnings after
the close:

AAPL +0.70, +0.61%, barely moves in after-hours on earnings
beat.

AKAM -9.76, -12.92%

TWTR -3.98, -12.70%

VRSK -1.33, -1.44%

ESRX -1.05, -1.25%

The SPX Market Forecast is at 94.

Trade with the trend of
the chart you are trading and
continue to move your profit protection stops. Continue to follow your rules.

Dave Johnson, CMT

David Johnson, CMT
Investment professional for 40 years including analyst, portfolio manager, trader and trading instructor. Performing computer based technical analysis since 1990. Previously quantitative and fundamental analysis. Has trained more than 40,000 traders in over 250 events including two and four day training events.
Email: chartsignals@yahoo.com